Key Candlepatterns
- Indicatori
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Raphael Lorenz Baumgartner
My name is Raphael Lorenz Baumgartner, a profitable trader at AUM Baumgartner, a project that focuses on the strategic, emotionless, and rule-based buying and selling of financial products within a single day. I leverage my numerical and analytical skills to make profitable decisions. I hold a - Versione: 1.0
- Attivazioni: 5
Key Candlepatterns
Platform: MetaTrader 5
Type: Custom Indicator
Display: Chart Window (Candlestick Overlay)
Functions:
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Detects and color-codes specific candlestick patterns based on candle shape, relative position, and ATR filters.
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Candles receive distinct colors depending on type (e.g. inside bar, outside bar, engulfing, hammer, shooting star, etc.).
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Visual patterns can help traders identify where buyers or sellers are likely active.
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Turning points (e.g., hammer followed by confirmation) are highlighted with arrows.
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Includes support/resistance zones, ATR, EMA, and high/low ranges.
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Outputs multiple buffers:
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Candlestick color classification
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ATR and true range
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Local highs/lows (support and resistance)
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Turning point markers
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Trigger strength signals
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Input Parameters:
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TurningPointLookback (default: 14)
Number of candles used to check for repeat confirmation of key candles (double signals). -
AtrPeriod (default: 5)
Period for average true range used to validate volatility.
How It Works:
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Candles are classified by structure (e.g., inside bar, engulfing, hammer).
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Each type is assigned a specific color for visual recognition.
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A sequence of key candles can form recognizable patterns that signal buyer or seller pressure.
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The system tracks recent turning points and shows arrows when a reversal is likely.
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Helps traders identify localized support/resistance and behavioral shifts in price action.
